A hacker has cracked the personal wallet of Ripple’s co-founder and executive chairman Chris Larsen and reportedly stole more than $117 million worth of XRP.
Larsen recognized the hack on the social media platform
“Yesterday there was unauthorized access to a few of my personal XRP accounts (not Ripple). We were able to quickly identify the issue and notify the exchanges to freeze the affected addresses. The police are already involved.
This is an isolated incident and Ripple wallets are safe/have never been compromised. We have confirmed that almost all affected funds have been converted from XRP.
We are working with law enforcement and have learned that a significant portion of the funds have been frozen and are aggressively pursuing the remainder.”
Larsen posted on X in response to a tweet from pseudonymous on-chain researcher ZachXBT, who said The Ripple company was hacked for approximately 213 million XRP worth $112.5 million.
Ripple CEO Brad Garlinghouse referred to ZachXBT’s post as “irresponsible speculation and reporting” and doubled down on Larsen’s statement, noting that none of the company’s addresses were affected.
Crypto tracker Lookonchain noted On Thursday, the hacker destroyed four of Larsen’s wallets, looting a total of 237.68 million XRP worth $117.4 million. The hacker reportedly transferred 212.68 million XRP worth $105 million to exchanges.
XRP is trading around $0.505 at the time of writing. The seventh-ranked crypto asset by market capitalization is up almost 2% in the past 24 hours.
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Generated image: Midjourney